Bolloré to Join Vivendi Board as Major Shareholder

By

Sam Schechner

Updated Oct. 16, 2012 12:43 p.m. ET

PARIS—French industrialist Vincent Bolloré has amassed more than €1 billion ($1.29 billion) in Vivendi SA stock, and is expected to join its board in December, adding a heavyweight ally for the company's chairman as the conglomerate pushes to sell telecommunication assets and focus more on media.

Mr. Bolloré's eponymous family investment firm and Vivendi both said Tuesday that Groupe Bolloré had crossed the threshold of 5% of Vivendi's stock, making it one of the company's largest shareholders. Mr. Bolloré's stake stems...